JP Morgan CEO Renews Criticism, Calls Bitcoin a 'Fraud' And 'Ponzi Scheme'
==========

Jamie Dimon, the Chief Executive Officer of JP Morgan, reaffirmed his stance on Bitcoin, calling it a 'public decentralized Ponzi scheme.' Dimon reiterated his skepticism about Bitcoin's viability as a currency, emphasizing his long-standing belief that it lacks prospects in that area. He acknowledged the significance of blockchain technology and smart contracts, but consistently condemned Bitcoin, linking it to illicit activities like money laundering and terrorism financing. Dimon has previously suggested that if these negative use cases cannot be addressed, regulators should shut down Bitcoin. The price of Bitcoin surged above $70,000 in March 2024 and currently hovers around the $63,000 mark, resulting in a market value of $1.2 trillion.

#Bitcoin #JpMorgan #JamieDimon #Cryptocurrency #PonziScheme #Fraud

https://www.legit.ng/business-economy/money/1588776-jp-morgan-ceo-renews-criticism-calls-bitcoin-a-fraud-ponzi-scheme/